7 Layers: CIOs Say ‘Triple Squeeze’ of Economy, Talent, Supply Chain to Impact 2023 Investments

CIOs are expecting their IT budgets to increase an average of 5.1% due to a “triple squeeze” of economic pressure, the talent shortage and supply chain challenges, according to a new survey from Gartner released in time for the Gartner IT Symposium 2023 in Orlando, Florida. The 2023 Gartner CIO and Technology Executive Survey gathered data from 2,203 CIO respondents in 81 countries and all major industries, and representing approximately $15 trillion in revenue/public-sector budgets and $322 billion in IT spending. The respondents ranked their company’s objectives objectives for digital technology investment over the last two years. The top two objectives were to improve operational excellence (53%) and improve customer or citizen experience (45%). In comparison, only 27% cited growing revenue as a primary objective and 22% cited improving cost efficiency. During this episode of 7 Layers, Daniel Sanchez-Reina, VP analyst at Gartner, talked about the survey results, and how CEOs and boards are anticipating digital initiatives, working to bridge silos in their organizations, reducing the talent gap through unconventional methods, and empowering employees outside of the IT team to contribute to building digital capabilities. Sanchez-Reina is a VP Analyst in CIO Leadership, Culture and People. Sanchez-Reina covers the complex challenges of culture change in organizations, high-performing teams, leadership, CIO influence and CIO role evolution. He provides research on a worldwide basis, advising clients on their specific needs to achieve sustainable growth. Listen to the podcast to hear what Sanchez-Reina had to say. Learn more about your ad choices. Visit megaphone.fm/adchoices